I Want to Learn More About Healthcare Costs

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I Want to Learn More About Healthcare Costs

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Help Guide for Learn More About Healthcare Costs (READ me)

Help Guide to use the Learn More About Healthcare Costs category: Click on LEARN MORE – GENERAL COST of Medical Care if you want to learn about a typical price or approximate average cost for surgery or health care service. The LEARN MORE – HEALTH INSURANCE cost category provides links to learn about problems of the uninsured, how much average insurance premiums cost, HSAs and High Deductible Health Plans, and the difficulty in finding low cost affordable health insurance.

Fact Sheet: Underpayment by Medicare & Medicaid (2022)

Analysis by the American Hospital Association shows that Medicare and Medicaid under-pay the true cost of hospital care by about $100 billion. This cost ends up being borne by other payers and commercial insurance. Using 2020 data, it is estimated Medicare paid 84 cents on the dollar, and Medicaid paid 88. February 2022 report.

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2020 National Health Costs at $12,530 per person Editor's Pick

National Health Costs for 2020 reached an estimated level of $12,530 per capita (per person). Which means every man, woman and child spent on average, over $34 EACH DAY (either through insurance, out-of-pocket costs or taxes) to pay for America’s healthcare. This represented 19.7 percent of GDP, $4.1 trillion. Total health spending increased 9.7% in 2020; and the percent of GDP grew by 2 points from 2019. This is due to the overall economy shrinking during the year, while healthcare took up a bigger proportion. Federal government spending on healthcare went up 36%. Federal spending included

the Provider Relief Fund,
the Paycheck Protection Program,
public health spending including Operation Warp Speed to get a vaccine, and
picking up the federal portion of increased Medicaid payments.

Medicare spending grew 3.5%,compared to 6.9% in 2019. On the other hand, Medicaid growth was 9.2% compared to 3% in 2019. Private insurance decreased by 1.2% as fewer people used healthcare while the coronavirus circulated. Out of pocket declined by 3.7% as people used fewer services during the year, and Covid expenses were covered by government spending. Dental spending was also down in 2020. Retail prescription drug spending was up 3.0%. Nursing home and retirement community spending was up 13% due to pandemic-related federal funding. CMS data published December 2021.